Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
Acquisition consideration
Under the new deal, Coro has agreed to pay HyOil up to a total of US$4.0m in Coro shares in the following
tranches:
1. US$2.0m on the closing of the transaction which will be satisfied by the issue of 42,434,465 new
Coro shares at a price of 3.6255p per share.
2. US$1.0m in new Coro shares upon the signing of a Gas Sales Agreement
3. US$1.0m in new Coro shares following the start of commercial production from the field
Under the terms of the new SPA, Coro also has agreed to pay AWE a cash consideration of US$6.96m plus
back costs and other working capital adjustments estimated to be c.US$1.04m. AWE will be liable for all
transfer taxes that may be incurred up
abzzba
Based on that, at 5 ltrs (lowest case) that comes to 271 bpd (159 ltrs in a barrel). Highest case at 40 ltrs is 2179 bpd.
ECHO gets 50%, CGC the other I understand.
So that equates to $10,000 per day (lowest case) to ECHO, and $161,250 (highest case), based on current WTI POO at $74.
Maths was never my strong point so happy to be corrected!
GLA
Thank you Deepi
Much obliged to you.
Chez
Yes, thanks courtier
Was Deepi there recording, do you know?
VMT
Are you in malkis?
Swiss Bank and 'Wealth Management' company. Their website seems to intimate long term investment strategies so looks to me as if they are just taking a strong position for long term. They must have some confidence.
GLA
March 9, 2018
Prahoro Nurtjahyo, adviser on investment and infrastructure development at the Ministry of Energy and Mineral Resources, explains the new gross-split regime, the legal framework behind it and its expected impact on Indonesia’s oil and gas industry. The terms of PSCs were overhauled when the government opted to switch from a cost-recovery model to a gross-split model, removing the burden of cost recovery from the government and courting foreign investors with more attractive terms.
On investment: “The upstream oil and gas industry is a long-term business, but that does not mean that long-term economic variables cannot be agreed between the government and the contractor, for example predicted future oil prices. That is part of the risk that must be calculated by both parties.”
On efficiency: “The GS PSC encourages the contractor to work as efficiently as possible, since the business model underlying the GS PSC contract concept is based the size of the investment return and the profits to be gained by the contractor, and it critically depends on how efficient they are in running their petroleum operations.”
On local content: “The implementation of the GS PSC does not abolish the contractor’s obligations to use domestic goods and services.”
From
www/articles/new-era-of-oil-and-gas-in-ind.theoilandgasyear.comonesia/
Exclusive on RDS loan of equipment to SOU, from Tunisia:
https://en.wikipedia.org/wiki/List_of_Star_Wars_filming_locations#/media/File:Tatooinecity.jpg
Just a bit of fun...
Best wishes to all holders.
Charleston 2006
https://www.youtube.com/watch?v=iyg_Bdk5Ysw
courtier
CORO is not a subsidiary of SOU, it is a separate company. However, they are both linked also with ECHO by one individual, James Parsons (these three companies are known by some as 'The Trinity'). There is the clue so you can DYOR on that basis.
You are correct that ECHO and CORO share the same offices in London (probably with revolving door between them!)
The 'Trinity' companies all have the same ethos, to acquire assets, develop them to commercial status and when ready, sell them as a package to the highest bidder (Liquidity Event, or 'LE').
Those of us who are/were in SOU had the option of Open Offer shares (depending on their holding at the time) of the
ECHO and CORO launch, of which I participated. I continue to hold my OO shares and have added to my holdings on dips in the SP in both CORO and ECHO.
My average here is 3.2p and I will hold now, with no more buying. I am not sure what my sell target price will be, so am waiting for the announcement of asset acquisition and the company's strategy before deciding on where to go from here.
GLA
Peeps starting to take positions? 5M shares traded today.
It could be that any negotiations vis a vis 'a transaction opportunity funnel' with Indonesia is being reviewed. Indonesia has effectively shut the door in CORO's face, probably along with many other interested parties.
Where to go now CORO?
'In the meantime the Company continues to focus its capital and management bandwidth on its strong South East Asian transaction opportunity funnel, where progress is expected shortly.'
Two and a half months later.....yawn. Can someone please explain what a transaction opportunity funnel is?
GLA
https://www.reuters.com/article/argentina-energy/argentina-to-free-retail-fuel-prices-in-august-idUSL1N1TW028
From 2 July 2018
Or if this URL is not complete to the BB then search yourselves. Hope ECHO got a good price for the last tanker load.
GLA
xx